Cardano (ADA) has been experiencing a gradual decline since early December, with its price falling below $1. Investor uncertainty is high, but long-term holders (LTHs) are crucial for stability. Active addresses on the Cardano network are dropping, indicating reduced liquidity and trader hesitation. However, the MVRV Long/Short Difference at 41% suggests that LTHs are more profitable and committed to holding, which could stabilize ADA's price.

ADA is currently priced at $0.89, holding above the $0.87 support level. Maintaining this support is essential for aiming at the $1.00 mark and potentially reversing losses to target $1.23. Losing the $0.87 support could lead to a drop to $0.77, invalidating the bullish outlook. LTH participation is key to offsetting market caution and aiding ADA's rebound. #Cardano #ADA #Crypto #MarketAnalysis